What is the name of your state? Michigan
In January of this year my husband bought an investment property that was forclosed upon. We paid $155,000 for a 2001 1500sq ft home that appraised at $226,000. Good deal, right? right...now....After the closing...the neighbors were telling us about a deed tied to the property. Out of complete panic, my husband and I went home and checked our title work. (we should have reviewed the title work at time of closing...were at fault and now it). Sure enough there was a deed tied to our property.
The next day I went to the county and got a copy of the deed which in part states:
"Easements and restrictions of record. And reserving onto the grantor, the right of ingress and egress to the rear of the land for the purpose of boat mooring and storage space, at no charge."
This deed was dated 1977. There was no house on the property until 2001.
My question is...do I have any legal recourse to get this removed? Now that there is a house on the property, Do my Riparian rights come into play?
We have spoke to several attorneys that said I didn't have a leg to stand on and to make this guy a deal. Other attorneys wouldn't talk to us unless we gave them $500.00.
We talked to the guys yesterday (really nice) and said he wanted $12,000 to end his part of the deed. After negotations we got him down to $8,700. He's sending us it writing as well.
What do you guys think? This is a last ditch effort...
Thanks for your time.
In January of this year my husband bought an investment property that was forclosed upon. We paid $155,000 for a 2001 1500sq ft home that appraised at $226,000. Good deal, right? right...now....After the closing...the neighbors were telling us about a deed tied to the property. Out of complete panic, my husband and I went home and checked our title work. (we should have reviewed the title work at time of closing...were at fault and now it). Sure enough there was a deed tied to our property.
The next day I went to the county and got a copy of the deed which in part states:
"Easements and restrictions of record. And reserving onto the grantor, the right of ingress and egress to the rear of the land for the purpose of boat mooring and storage space, at no charge."
This deed was dated 1977. There was no house on the property until 2001.
My question is...do I have any legal recourse to get this removed? Now that there is a house on the property, Do my Riparian rights come into play?
We have spoke to several attorneys that said I didn't have a leg to stand on and to make this guy a deal. Other attorneys wouldn't talk to us unless we gave them $500.00.
We talked to the guys yesterday (really nice) and said he wanted $12,000 to end his part of the deed. After negotations we got him down to $8,700. He's sending us it writing as well.
What do you guys think? This is a last ditch effort...
Thanks for your time.